GCC Luxury Market Size, Report & Analysis 2025-2033

GCC Luxury Market Overview

Market Size in 2024: USD 16.93 Billion

Market Size in 2033: USD 37.55 Billion

Market Growth Rate 2025-2033: 8.79%

According to IMARC Group's latest research publication, "GCC Luxury Market Size, Share, Trends and Forecast by Type, Gender, Distribution Channel, and Region, 2025-2033", the GCC luxury market size was valued at USD 16.93 billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 37.55 billion by 2033, exhibiting a CAGR of 8.79% during 2025-2033.

How AI is Reshaping the Future of GCC Luxury Market

• AI enables hyper-personalized shopping experiences through virtual try-ons, predictive recommendations, and tailored clienteling, allowing brands to deliver exclusive, culturally attuned offerings that resonate with affluent GCC consumers seeking individuality.
• Advanced AI tools enhance trend forecasting and inventory management, optimizing supply chains for high-demand categories like watches, jewelry, and fashion while minimizing waste and supporting sustainable practices in the region's growing eco-conscious luxury segment.
• AI-powered chatbots and virtual concierges provide seamless, 24/7 multilingual support, elevating customer service in luxury retail and e-commerce platforms across the UAE and Saudi Arabia.
• Integration of AI in resale and circular economy models authenticates products via blockchain, boosts trust in pre-owned luxury, and expands market reach to younger, value-driven buyers in the GCC.
• AI drives immersive experiences like augmented reality showrooms and data-driven personalization, helping brands scale exclusivity while aligning with government digital transformation goals for enhanced operational efficiency.

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How Vision 2030 is Revolutionizing GCC Luxury Industry

Saudi Arabia's Vision 2030, complemented by similar diversification strategies in the UAE and other GCC nations, is transforming the luxury sector by positioning the region as a global hub for premium consumption and experiential retail. Heavy investments in world-class infrastructure, such as mega-malls, flagship stores, and ultra-luxury tourism projects like the Red Sea developments and NEOM, attract high-net-worth visitors and boost local spending on fashion, jewelry, watches, and hospitality. Government initiatives promote economic diversification away from oil, fostering public-private partnerships that expand retail landscapes and support homegrown luxury brands. These efforts enhance accessibility through tax incentives, eased regulations, and digital advancements, while emphasizing sustainability and cultural integration in high-end offerings. Vision 2030 accelerates growth in categories like experiential luxury and bespoke services, creating a vibrant ecosystem that elevates the GCC's status, drives tourism, empowers younger demographics, and ensures long-term resilience through innovation and inclusive prosperity.

GCC Luxury Market Trends & Drivers

The GCC luxury market demonstrates strong momentum in 2026, with robust growth in personal luxury goods fueled by exceptional retail infrastructure and a young, affluent consumer base. Key trends include surging demand for watches and jewelry as top-performing categories, rising adoption of digital platforms with AI-driven personalization, and a shift toward experiential and sustainable luxury. E-commerce expansion, hybrid retail models, and immersive experiences dominate, while tourism recovery and high-end hospitality developments amplify spending in the UAE and Saudi Arabia.

Primary drivers stem from rising disposable incomes, cultural affinity for prestige items, and government-led economic diversification initiatives that prioritize retail and tourism. High-net-worth individuals, increasing female empowerment, and influxes of international tourists contribute significantly, alongside supportive policies for infrastructure and digital innovation. These elements, combined with resilient post-pandemic demand and focus on exclusivity, propel double-digit growth projections, solidifying the GCC as a leading global luxury destination.

GCC Luxury Industry Segmentation:

The report has segmented the market into the following categories:

Breakup by Type:

• Travels and Hotels
• Cars
• Personal Luxury Goods
• Food and Drinks
• Others

Breakup by Gender:

• Male
• Female

Breakup by Distribution Channel:

• Mono-Brand Stores
• Multi-Brand Stores
• Online Stores
• Others

Breakup by Region:

• Saudi Arabia
• United Arab Emirates
• Qatar
• Kuwait
• Oman
• Bahrain

Competitive Landscape:

The competitive landscape of the industry has also been examined, along with the profiles of the key players.

• Ajmal
• TFK
• Rasasi
• Arabian Oud
• Abdul samad Al qurashi

Recent News and Developments in GCC Luxury Market

• January 2025: Dubai Economy & Tourism (DET) officially reported strong luxury retail performance during the Dubai Shopping Festival, driven by high-net-worth tourism and international visitor inflows.
  
  
• March 2025: Chalhoub Group publicly announced new flagship luxury brand openings and store expansions across the UAE and Saudi Arabia, reinforcing GCC dominance in luxury retail distribution.
  
  
• June 2025: Saudi Arabia’s Ministry of Tourism confirmed continued development of luxury destinations (Red Sea Global, Diriyah), supporting luxury hospitality, retail, and lifestyle brands.
  
  
• September 2025: LVMH and Richemont group maisons disclosed store refurbishments and footprint expansion in key GCC luxury hubs, including Dubai and Riyadh, through official corporate communications.
  
  
• December 2025: GCC mall operators and tourism authorities confirmed record year-end luxury retail activity during National Day and holiday periods, based on released footfall and transaction data.

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IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provides a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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